G20: Treasury's Pieterse confident finmins & central bank governors can reach consensus on number of issues
National Treasury said that finance ministers and central bank governors were on the brink of reaching consensus as fiscal and monetary policy leaders meet for a third time under South Africa’s G20 presidency.
Finance Minister Enoch Godongwana (right) and Treasury Director-General Duncan Pieterse (left) at the G20 Compact with Africa (CwA) side event in Zimbali, KwaZulu-Natal, on Thursday, 17 July 2025. Picture: @g20org/ X
JOHANNESBURG - National Treasury said that finance ministers and central bank governors were on the brink of reaching consensus as fiscal and monetary policy leaders meet for a third time under South Africa’s G20 presidency.
The diplomatic bloc failed to agree on a formal communique at the February meeting in Cape Town, with some pushback from the US on climate financing.
In the chair’s summary, member states agreed on efforts to strengthen multilateral development banks, reforming global governance institutions, enhancing debt sustainability and addressing liquidity challenges.
At the finance track meeting underway in KwaZulu-Natal (KZN), the wording on sustainable financing coming from the US delegation was the cause for a difference of opinion.
But Director-General at Treasury, Duncan Pieterse, said the first communique in two years could be finalised when the meeting wraps up on Friday.
"We are quietly confident that we will be able to get there, and it would be a significant achievement because a communique means that there is consensus among the members of G20 on a range of issues and at a time like now, I think that kind of achievement is quite remarkable."